Refer to the financial statements for Chipotle reproduced in the chapter and answer the following questions.

1. What was the company's net income for 2015?

2. State Chipotle's financial position on December 31, 2015, in terms of the accounting equation.

3. By what amount did Leasehold improvements, property and equipment, net, increase during 2015? Explain what would cause an increase in this item.